A technical director typically is responsible for providing technical support for theatrical, media, or software companies. The director works with equipment that requires specialized training to operate, and is usually considered an expert in using and coordinating the use of this equipment. He or she supervises teams or crews â usually hired by the director â that are trained to perform technical functions.
If an adult child gives money to a parent to be used for living expenses, does the maximum tax-free gift rule apply? The IRS allows for monetary gifts of between $1.00 and $14,000.00 to be given to anyone without taxation. This $14,000 maximum gift can be given to anyone, including parents, children or those who you aren't related at all, and no tax liability will be incurred. However, the reason for the gifting has no relevance to the IRS, so long as the gift is given individually and not exceeding the maximum limit for that year. If your gift exceeds that maximum amount, tax may be assessed on it, even if the money is to your elderly parents for living expenses.
Married couples who elect to split their gifts for the calendar year can give up to $28,000 a year. This means your parents could combine their annual limit and give each of their children or grandchildren up to $28,000 during this 2016 holiday seasonâand none of you would have to pay taxes or even report the gift.